I'm thinking about buying a bit of land and have no idea if it's generally considered a good or poor investment from a Mustachian perspective. I'm just starting my research so thought I'd ask here.
I'm in Colorado and like to camp, ski and get to the mountains on the weekends. So does seemingly every other person in the state - campsites are jammed, traffic is nuts and rental places are expensive. So I'm thinking about buying a small plot of land on the way to one of the mountain areas where my family and I could camp (or put a trailer on) for now and eventually build a cabin (down the line, once we've saved the money to do so). We would pay cash for the land, using money that we just received from the sale of another home.
On one hand, it seems like a lot of positives to me: we buy in while we can afford to do so, Colorado real estate continues to boom as people keep moving here for the exact same reasons we did, the money is invested in something that hopefully grows, we're able to use the land in the meantime, there's a future possibility of rental income from the cabin we'd build.
On the other hand... would my money just be safer/grow faster in more traditional investments? I know it's more expensive to build a house than to buy one, especially on a mountain property that will have varying degrees of expenses in connecting to utilities, etc. My husband thinks it would be cheaper to just keep continuing to rent other people's cabins for our adventures, but the idea of buying in while we can and owning our own little piece of the mountain paradise we love really appeals to me. But romanticism can be costly. What do you think?